Total assets of joint venture and foreign banks in Vietnam have grown sharply last year

The assets of joint ventures and foreign banks in Vietnam registered a sharp increase last year, compared to have grown sharply last year with state-owned and commercial banks.

While the country’s banking system put in a weak performance in 2013, latest statistics compiled by the State Bank of Vietnam have shown that as of the end of December last year, total assets of joint ventures and foreign lenders in Vietnam had grown 26.92 percent over the previous year.

The news website thoibaokinhtesaigon reported that the growth in total assets of state-owned commercial banks was 13.77 percent and of commercial banks was 14.8 percent.

Financial companies and financial leasing companies faced a hard year with their assets value plunging 57.76 percent over 2012.

The return on assets (ROA) of the banking system was 0.49 percent last year compared with 0.79 percent in 2012, while the 2013 return on equity (ROE) ratio dropped to 5.28 percent from 10.34 percent.